General Motors and Wolfspeed Forge Strategic Supplier Agreement

Shocking Development

Today, General Motors (NYSE: GM) and Wolfspeed, Inc. (NYSE: WOLF) announced a strategic supplier agreement to develop and provide silicon carbide power device solutions for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will enable GM to install more efficient EV propulsion systems that will extend the range of its rapidly expanding EV portfolio.

The silicon carbide will specifically be used in the integrated power electronics contained within GM’s Ultium Drive units in its next-generation EVs.

As a part of the agreement, GM will participate in the Wolfspeed Assurance of Supply ProgramTM (WS AoSP), which is intended to secure domestic, sustainable and scalable materials for EV production.

“Our agreement with Wolfspeed represents another step forward in our transition to an all-electric future,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. “Customers of EVs are looking for greater range, and we see silicon carbide as an essential material in the design of our power electronics to meet customer demand. Working with Wolfspeed will help ensure we can deliver on our vision of an all-electric future.”

“Our agreement with GM further demonstrates the automotive industry’s commitment to delivering innovative EV solutions to the market and using the latest advances in power management to improve overall vehicle performance,” said Gregg Lowe, CEO of Wolfspeed. “This agreement ensures long-term supply of silicon carbide to GM to help them deliver on their promise of an all-electric future.”

The silicon carbide power device solutions will be produced at Wolfspeed’s 200mm-capable Mohawk Valley Fab in Marcy, New York, which is the world’s largest silicon carbide fabrication facility. Launching in early 2022, this state-of-the-art facility will dramatically expand capacity for the company’s silicon carbide technologies, which are in increasing demand for EV production and other advanced technology sectors around the world.

The widespread adoption of silicon carbide as an industry standard semiconductor for transportation supports the automotive industry’s rapid transition to clean energy vehicles. Silicon carbide enables greater system efficiencies that result in longer EV range while lowering weight and conserving space. Wolfspeed’s technology is fueling electric propulsion systems across the entire voltage spectrum – from 400V to 800V – and beyond.

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